• Home
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
TechArtes - Tech News, Reviews & Gaming
  • Home
  • Crypto Coin PricesLive
  • Business
  • Gaming
  • Technology
  • Gadgets
  • Mobile
No Result
View All Result
  • Home
  • Crypto Coin PricesLive
  • Business
  • Gaming
  • Technology
  • Gadgets
  • Mobile
No Result
View All Result
TechArtes
No Result
View All Result

Obstacles to Crypto Adoption

by H Fang
crypto-adoption

Cryptocurrencies provide many possibilities. The transaction, for example, is very straightforward, and it is also more confidential than the traditional banking system. The transaction fees are not as expensive as what banks require.  

There are no transferring funds and other surprises along the way. Access to credit is greater than you have ever thought as long as you have a viable data connection and a reliable program like Financial transparency. 

RelatedPosts

Successful Cryptocurrency Business Models

Coinbase Review – Cryptocurrency Exchange

TOP Apps For Crypto Trading | 2021 List

That’s not all. The international trade is easier than expected. Although it is not largely recognized, crypto, by nature, is not subject to interest rates, transaction charges, exchange rates, and other expenses. 

With that, cross-border transactions and the transfer will be simpler than expected. Individual ownership has also been associated with the crypto market. In a credit card system and other traditional banking systems, clients turn the stewardship of their funds to a third party. In case of infringements, your account might be closed.

In cryptocurrency, however, you are the sole owner of your digital wallet. You are also given public or private encryption keys, making up your crypto network identity. No wonder why crypto users are around 40 million. Plus, the number is expected to double in the coming years. 

However, there are obstacles and challenges to note. Some of them are highlighted below: 

Lack of Regulation 

Economists say the lack of regulation in cryptocurrency inhibits global adoption and trust.

For example, the widespread scams in the crypto world or supply of drug-themed crypto affect some legitimate projects. As a result, this discourages potential adopters. 

Strict and global regulation can address this never-ending problem, according to experts. Currently, global cryptocurrency regulations have been implemented. Thankfully, many countries strive to establish crypto regulation that would help build a better future. 

A Balance of Trust and Privacy 

Many people are tempted to look at crypto technology as a source of truth. Researchers note that stakeholders want a higher level of privacy. 

This has led to a conflict with regulatory expectations. Regulators in the United States start to size up the shape of the problem while Japanese authorities bring the hammer down on privacy coins. 

Of course, most mediums of exchange, including prepaid debit cards, are anonymous. As a result, transparency is a bigger obstacle to blockchain adoption compared to privacy. 

How to fix this problem? Creating a system that delivers different levels of privacy can play a critical role. 

Volatility 

Volatility is another obstacle in the crypto market. Unlike the conventional banking system, the volatility in crypto assets is high. It can relatively affect perceptions or even impact their use in different transactions, according to researchers. 

Scalability 

Who doesn’t want a crypto with speed, decentralization, and security? Of course, everyone loves that. But not all crypto has all these features. Some only have two, while others have one. 

Ether and bitcoin, for instance, opt for decentralization and security. So, they are slow and might be impractical for global adoption. But it depends. 

According to critics, blockchain technology cannot support and even meet the needs of the global economy due to its less scalable and slower system. 

The solution here is to wait for new developments and innovations in the future. That is why we really have to be patient. 

User-friendliness

Generally, cryptocurrency is limited to tech-savvy individuals, according to economists, which affects global trust and adoption. 

Also, it affects individual users. They might encounter some trouble maintaining their multiple wallets. 

At present, it doesn’t have solutions. Similar to scalability obstacles, this problem might be fixed thru time. So, let’s expect for the best soon. We hope economists and other experts will develop something that would change the crypto industry.

Tags: crypto-adoption

H Fang

Hina Irfan is a professional blogger, outreach expert, and writer. She is an active content creator who aims to inspire. She writes for several online magazines and on diverse topics with the focus on offering useful and actionable information to the readers. You can contact her for outreach opportunities at [email protected]

Next Post
cryptocurrency

Interesting Facts About Cryptocurrency

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Recommended.

How to Find Wi-Fi Password on Windows 10

How to Find Wi-Fi Password on Windows 10

locksmith

Best Locksmith Near Me in the Connecticut Needed

Trending.

Vancouver AV Company Specializing in Audiovisual Installations

Vancouver AV Company Specializing in Audiovisual Installations

Convert YouTube to MP3

How to Convert YouTube to MP3- Step By Step Process

botnet HD

What is a Botnet Attack and How It Works

sms-marketing-strategies

SMS Marketing Best Practices For Ecommerce

Organization Techniques for Improving Your Productivity

5 Organization Techniques for Improving Your Productivity

Latest Discussions

  • Pankaj Tyagi on Convert an Exchange or IMAP .OST to a .PST
  • LP2Lily on How to Block Someone on YouTube – Working Guide 2020
  • Florian Berg on XNSPY Review 2020—What’s New in Smartphone Monitoring?
  • Karina Espina on How to Block Someone on YouTube – Working Guide 2020
  • Glen on How to Block Someone on YouTube – Working Guide 2020
TechArtes

Artes (noun) - studies intended to provide general knowledge and intellectual skills.
TechArtes strives to do the same with Technology, Gaming & Mobile.

Follow Us

Categories

  • Business
  • Cryptocurrency
  • Design & Code
  • Gadgets
  • Gaming
  • Info Base
  • Marketing
  • Mobile
  • News
  • Technology
  • Uncategorized

Recent News

botnet HD

What is a Botnet Attack and How It Works

Organization Techniques for Improving Your Productivity

5 Organization Techniques for Improving Your Productivity

  • About
  • Submit Guest Post
  • Privacy Policy
  • Terms and Conditions
  • Contact Us

Copyright © 2020 TechArtes - Best Tech Community on the Web!

No Result
View All Result
  • Home
  • Gaming
  • Technology
  • Business
  • Gadgets
  • Design & Code
  • News
  • Mobile

Copyright © 2020 TechArtes - Best Tech Community on the Web!

wpDiscuz
0
0
Would love your thoughts, please comment.x
()
x
| Reply
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.